The states of Virginia and Michigan have been continually active in the past few months in terms of implementing online betting regulations and legislations. Their initiatives have resulted in a positive outcome and represented a good example for other states on how to adapt and regulate the current market situation. Today we report on the latest updates in these states, regarding the online and mobile betting market.
The Virginia Lottery launches casino and sports betting microsite
The state of Virginia makes serious efforts in the process of sports betting. Just a few weeks ago authorities announced that they will allow online and mobile sports betting, while also open casino venues in five cities.
These days The Virginia Lottery has launched a casino and sports betting site which will include information about regulations and processes for expanded gaming. The microsite will bring information on the rulemaking process and will provide estimated timelines for when expanded gaming will become available for Virginia players. Casinos will have to provide the necessary info that will further be submitted by designated host cities and gaming partners for preliminary views. Reviews must be made before a city places a proposal in a local referendum during the November 3 general election, as reported by WWBT.
The documents for preliminary review will be accepted by June 1. The middle of August marks the deadline for the court system to order the question on the ballot. On November 3 voters will make their decision on the question of casino gaming. Finally, in late November the results will be reviewed and certified by the State Board of Elections.
The Lottery executives agreed that casino legislation demands a more comprehensive review and approach to casino history, including financial performance and possible frauds of designated gaming operators during a much more extensive license application process. This process will start after draft regulations are completed.
The legislation will require the Virginia Lottery to issue up to 12 licences for mobile sports wagering in Virginia. The Lottery board will be required to adopt initial betting regulations no later than September 15, including 30 days of public comment and suggestions period. After the adoption of the rules, the lottery will have 90 days to review applications and issue licences in the early days of 2021. The site will be updated as the gaming initiatives progress, including the licencing, audit and compliance requirements for operators, suppliers and employees.
Michigan allows online and mobile betting on horseracing
The Michigan Gaming Control Board (MGCB) has approved online and mobile betting on advance deposit horse racing after the new announcement from the board executive Richard S. Kalm. On Tuesday, the board issued guidance where they’ve listed the terms and conditions that must be followed by third-party facilitators (TPF) when offering advance deposit wagering (ADW).
This order, as Mr Kalm stated, should enable the state’s horse racing industry to gain new followers through ADW. This step will further maintain protection for citizens who wish to place wagers on live and simulcast racing in Michigan, using their mobile phones. Outside sportsbook businesses can now apply for a licence for horse racing betting. The potential provider will need to apply for a licence to operate with the MGCB, by submitting their business strategy and $1500 for an application fee and background check. The bets that will be offered by these companies must be done under the pari-mutuel system.
Online sportsbooks in Michigan haven’t launched yet, which could make the horse betting apps the first available online betting platform to be available in the state. The situation offline is much different, as land-based sportsbooks opened on March 11 were active for a handful of days before being closed. There is no detailed information on how long it will take the MGCB to begin issuing licences for mobile sportsbook platforms. However, we are pretty positive that this market will continue to develop and adapt to current conditions and demands.